Global Gift Card Market - 2023-2030

Market Overview

The global gift card market reached US$ XX million in 2022 and is projected to witness lucrative growth by reaching up to US$ XX million by 2030. The market is growing at a CAGR of 13.8% during the forecast period (2023-2030).

Gift cards have become increasingly popular in recent years, as they offer a convenient and flexible gift-giving option for many occasions, including birthdays, holidays and special events. They are also a popular option for corporate gifts and incentives. Gift cards also offer convenience for both the gift-giver and the recipient. They can be purchased online or in-store and many retailers offer electronic gift cards that can be sent via email or text message. This makes it easy to purchase and send gift cards from anywhere, at any time.

Market Dynamics

Convenience and flexibility in gift cards

For retailers, gift cards offer flexibility in terms of sales and inventory management. Gift cards provide a way for retailers to generate sales in advance, without needing to stock specific products or manage inventory. This can help retailers to better manage their cash flow and reduce the risk of overstocking or understocking.

Another factor that contributes to the convenience and flexibility of gift cards is the ability to purchase them online. Online gift card sales have grown significantly in recent years, as consumers increasingly prefer to shop online. This allows consumers to purchase gift cards from the comfort of their own homes, at any time of day or night. Furthermore, the convenience and flexibility of gift cards is further enhanced by the ability to personalize them. Many gift card providers now offer the ability to add a personal message or photo to the gift card, making it an even more thoughtful and personalized gift.

Gift card fraud

The gift card fraud can occur is through the use of fraudulent online transactions. Criminals can use stolen credit card information to purchase gift cards online or they can use bots to generate gift card numbers and PINs. This can result in chargebacks and lost revenue for retailers, as well as damage to their reputation and consumer trust. Gift card fraud can also impact consumers directly. If a consumer purchases a gift card that is later found to be fraudulent, they may be unable to redeem it or receive a refund. This can result in frustration and dissatisfaction and can damage their trust in the gift card market.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The global application container market is segmented based on type, product, distribution channel, end-user and region.

The growing customizable design and greater control over the purchasing experience drives the segment growth

Closed loop gift cards offer retailers greater control over the purchasing experience. Because these gift cards can only be used at a specific retailer or brand, the retailer can ensure that the customer has a positive experience. This can include ensuring that the card is properly activated, that the correct balance is loaded onto the card and that the customer is able to find the products they want. By providing a positive purchasing experience, retailers can encourage repeat business and increase customer loyalty. Closed loop gift cards offer retailers the ability to customize the design and branding of the gift card. This can help to reinforce the retailer's brand identity and create a more engaging and memorable experience for customers. By customizing the design of the gift card, retailers can increase the perceived value of the gift card and encourage customers to purchase them as gifts.

Geographical Analysis

The growing E-commerce in the region strengthen the growth of the Asia-Pacific gift card market

E-commerce has opened up a world of shopping possibilities for consumers, as they can now purchase goods and services from retailers all over the world. This has created a demand for gift cards that can be used at a wide variety of retailers, as consumers want the flexibility to shop wherever they choose. In response, many retailers have started offering gift cards that can be used both online and in-store, increasing their appeal to consumers. The rise of e-commerce has led to a greater emphasis on security and fraud prevention. Digital gift cards are often more secure than traditional gift cards, as they can be tracked and monitored to prevent fraud. This has helped to increase consumer confidence in the use of gift cards, which has in turn contributed to the growth of the Asia-Pacific gift card market.

Competitive Landscape

The major global players include: Blackhawk Network, InComm, Givex, National Gift Card Corp., CashStar, Tango Card, Qwikcilver, SVS, Card Compliant and First Data.

Why Purchase the Report?

• To visualize the global application container market segmentation based on type, product, distribution channel, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of application container market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global gift card market report would provide approximately 69 tables, 67 figures and 212 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies